It is the 21st of October 2019

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Benchmark Sues Travis Kalanick For Fraud, Breach Of Contract And "Gross Mismanagement"

The life of embattaled Uber ex-CEO Travis Kalanick just went from bad to worse, when on Thursday afternoon venture capital firm Benchmark Capital, one of the early investors in Uber - perhaps sensing that instead of an IPO, Uber's next valuation will be a 40% down round - just sued Kalanick for fraud, breaches of fiduciary duty, and breaches of contractual obligations in Delaware Chancery Court. If the lawsuit is successful, it is likely that the now former CEO will also be kicked off the board of the company that he launched.

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Howard Marks Sounds The Alarm On ETFs And Passive Investing, Again

Back in March 2015, Howard Marks was among the first to sound the alarm on the encroaching danger posed by both ETFs in particular, and passive investing in general, when he memorably asked (rhetorically, for now), "what would happen, for example, if a large number of holders decided to sell a high yield bond ETF all at once?" and answered his own question:

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